The Case for Accrual Recording in the IMF's Government Finance Statistics System
IMF Working Papers, July 1, 1996
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- The Case for Accrual Recording in the IMF's Government Finance Statistics System
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Bibliographic details
- Authors: Don Efford
- Published: July 1, 1996
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451849417.001
Summary
- Purpose: Investigates whether the planned revision of the IMF’s A Manual on Government Finance Statistics should advocate an accrual basis of recording over the essentially cash basis of recording in the previous manual.
- Main conclusion: The revised manual should advocate an accrual basis to address deficiencies of the existing modified cash basis and enable a greater degree of harmonization with other macroeconomic statistical systems.
- Proposed approach: Suggests a strategy to enable countries to move progressively to compiling an extensive range of accrual information reconciling data on economic and financial flows and stocks.
Key findings and rationale
- Accrual recording is recommended over the essentially cash basis used in the previous manual.
- Rationale for accrual advocacy:
- Addresses deficiencies of the existing modified cash basis.
- Enables greater harmonization with other macroeconomic statistical systems.
- Emphasis on reconciling economic and financial flows and stocks through expanded accrual information.
Strategy and policy recommendations
- Recommend a progressive implementation strategy to assist countries in transitioning from cash-based to accrual-based compilation.
- Encourage compilation of an extensive range of accrual information that reconciles:
- Economic flows
- Financial flows
- Stocks
Additional notes
- Author: Don Efford
- Publication date: July 1, 1996
- Disclaimer: "This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate."
Subject areas and keywords
- Subject: Accrual accounting, Currencies, Economic and financial statistics, Financial statements, Government finance statistics, Money, National accounts, Public financial management (PFM)
- Keywords: Accrual accounting, accrual data, accrual system, cash information, cash payment, cash system, Currencies, due-for-payment base, economic value, Financial statements, GFS compiler, GFS manual, GFS Manual, GFS system, Government finance statistics, Middle East, recording basis, term transaction, Western Hemisphere, WP